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RWM vs RXD

ProShares Short Russell2000

RWMBNYSE Arca

ProShares UltraShort Health Care

RXDCNYSE Arca

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

RWM0.95%RXD0.95%

Avg volume · 30D

RWM 3229.2×the volume

RWM30MRXD9.3K

10Y return · a year

RWM +12.0pt

RWM−11.1%RXD−23.1%

RWM vs RXD Performance

Oct 29, 2021 – Oct 30, 2026

−18.3%RWM−45.4%RXD

Oct 29, 2021 to Oct 30, 2026. RWM −18.3%. RXD −45.4%. Use the arrow keys to read each point.0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
RWM 0.95%
RXD 0.95%
Fund size
RWM $163M
RXD $3M
1Y total return
RWM −10.2%, better
RXD −39.8%
Yield (12M)
RWM 3.32%
RXD 3.64%, better
Holdings
RWM 3
RXD 1
Avg volume (30D)
RWM 30M sh, better
RXD 9.3K sh
NAV per share
RWM $14.37
RXD $12.36
52W range

ETF.net Grade

RWM: Cost 50, Risk 61, Mission not scored, Tradability 90, Holdings 63, Durability 69. RXD: Cost 50, Risk 47, Mission not scored, Tradability 25, Holdings not scored, Durability 45.
Pillar letters and Scores for RWM, RXD, with each pillar’s weight
PillarRWMRXD
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB61HigherC47
Tradability15% weightA90HigherD25
Holdings10% weightB63Not scored
Durability5% weightB69HigherC45

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. RWM and RXD are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

RWM ranks 4th and RXD 32nd of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 3BPSQProShares Short QQQScore 64
  4. Rank 4BRWMProShares Short Russell2000Score 63
  5. Rank 5BSJBProShares Short High YieldScore 62
  6. Rank 32CREWProShares UltraShort TechnologyScore 40
  7. Rank 32CRXDProShares UltraShort Health CareScore 40
  8. Rank 32CSBBProShares Short SmallCap600Score 40

Our read on each fund

ETF.net Research

RWMBProShares Short Russell2000

RXDCProShares UltraShort Health Care

In short

RWM Short small caps at one speed: RWM targets the inverse of the Russell 2000's daily move, with no 2x or 3x multiplier on top. Trading since 2007, at 0.95% net of a waiver through September 30, 2027.

RXD A sector-specific short: aims to deliver -2x the daily move of the S&P Health Care Select Sector Index inside a plain ETF wrapper. Trading since 2007, it resets every day, which makes it a short-horizon tool rather than a hold.

Stated mandate

RWM The fund seeks daily investment results, before fees and expenses, that correspond to the inverse of the Russell 2000 Index's daily performance.

RXD The fund seeks daily pre-fee and pre-expense returns equal to negative two times the daily performance of the S&P Health Care Select Sector SM Index.

Why people hold it

  • RWM Straight -1x, not a multiplier: it tracks the inverse of the Russell 2000's daily move, where stablemate TWM targets -2x on the same index.proshares.com
  • ProShares calls it the only -1x ETF tied to the Russell 2000, the index of the 2,000 smallest US names in the Russell 3000.proshares.comproshares.com 2
  • Trading since January 2007 and one of the busier funds in the inverse-equity aisle, so entering and exiting is rarely the hard part.
  • Fee is 0.95% net of a waiver through September 30, 2027 (1.05% gross), near what this category charges, and it rates among the strongest builds in its peer group.
  • RXD Inverse health care exposure without a margin account or a swap desk: -2x daily on the S&P Health Care Select Sector Index in a 1940 Act fund.proshares.com
  • Fee is 0.95% net of a waiver through September 30, 2027, against a 4.53% gross ratio, and near the median for leveraged and inverse funds.
  • Same 0.95% net sticker as ProShares' broad-index shorts DOG and PSQ, each also net of a waiver through September 30, 2027, so the sector focus costs no extra.
  • Launched January 2007, so this is one of the original leveraged and inverse sector funds, seasoned through many health care policy cycles.

Worth knowing

  • RWM The -1x target resets daily. Hold longer and compounding rules: ProShares says multi-day returns can differ significantly from the target, in amount and even direction.proshares.comproshares.com 2
  • Symmetric by design: on days the Russell 2000 climbs, the fund is built to lose roughly as much as the index gains.proshares.com
  • Fund documents tell investors to monitor holdings as frequently as daily, which puts this at the hands-on end of the shelf.proshares.com
  • RXD The -2x target applies to a single day. Returns compound, so results over longer stretches can differ from twice the inverse of the index move.sec.gov
  • It has stayed small and trades thinly next to broad-index inverse siblings like PSQ and RWM, so bid-ask spreads can run wider.
  • One sector, doubled and flipped: FDA rulings, drug-pricing headlines and a few mega-cap pharma names swing it hard in both directions.

Full RWM profile⁠

Full RXD profile⁠

RWM vs RXD Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

RWM vs RXD Cost

Same expense ratio

$17,869

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • RWM 0.95%

    $17,869

  • RXD 0.95%

    $17,869

$10,000
30 years

Cost over time

  • RWM 0.95%
  • RXD 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530RWM $17,869RXD $17,869

Year by year

YearRWMRXD
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%RWM
  • 0.95%RXD
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

RWM 6th cheapest of 53 funds

RXD 6th cheapest of 53 funds

RWM vs RXD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
RWM 3.32%
RXD 3.64%, better
Payout (12M)
RWM $0.48
RXD $0.45
Last payment
RWM $0.09
RXD $0.12
Ex-dividend
RWM Sep 23, 2026
RXD Sep 23, 2026
Paid on
RWM Sep 29, 2026
RXD Sep 29, 2026
Frequency
RWM Quarterly
RXD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RWMQuarterly · 26 paymentsAll RWM payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.03; Mar 21, 2018 $0.04; Jun 20, 2018 $0.10; Sep 26, 2018 $0.14; Dec 26, 2018 $0.13; Mar 20, 2019 $0.11; Jun 25, 2019 $0.18; Sep 25, 2019 $0.15; Dec 24, 2019 $0.14; Mar 25, 2020 $0.05; Dec 22, 2022 $0.10; Mar 22, 2023 $0.15; Jun 21, 2023 $0.24; Sep 20, 2023 $0.27; Dec 20, 2023 $0.35; Mar 20, 2024 $0.26; Jun 26, 2024 $0.29; Sep 25, 2024 $0.28; Dec 23, 2024 $0.30; Mar 26, 2025 $0.14; Jun 25, 2025 $0.20; Sep 24, 2025 $0.13; Dec 24, 2025 $0.18; Mar 25, 2026 $0.06; Jun 24, 2026 $0.14; Sep 23, 2026 $0.09. Use the arrow keys to read each point.$0$0.252017202020232026YTD
RXDQuarterly · 24 paymentsAll RXD payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.01; Dec 26, 2018 $0.22; Mar 20, 2019 $0.26; Jun 25, 2019 $0.37; Sep 25, 2019 $0.35; Dec 24, 2019 $0.21; Mar 25, 2020 $0.07; Dec 23, 2021 $0.09; Dec 22, 2022 $0.16; Mar 22, 2023 $0.10; Jun 21, 2023 $0.22; Sep 20, 2023 $0.19; Dec 20, 2023 $0.24; Mar 20, 2024 $0.25; Jun 26, 2024 $0.38; Sep 25, 2024 $0.20; Dec 23, 2024 $0.20; Mar 26, 2025 $0.13; Jun 25, 2025 $0.12; Sep 24, 2025 $0.21; Dec 24, 2025 $0.14; Mar 25, 2026 $0.04; Jun 24, 2026 $0.14; Sep 23, 2026 $0.12. Use the arrow keys to read each point.$0$0.252017202020232026YTD

RWM vs RXD Risk

Fall from peak · 5 years

  • RWM
  • RXD
Oct 29, 2021 to Oct 30, 2026. Worst fall: RXD −56.1% · Oct 2026. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
RWM 18.4%, betterRXD 28.9%
Return per unit of riskSharpe ratio, 3 years
RWM −0.99RXD −0.85, better
Worst fallMax drawdown, 5 years
RWM −43.7%, betterRXD −56.1%
Market sensitivityBeta, 5 years
RWM −1.23RXD −0.93

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